Elan Reports Third Quarter 2012 Financial Results

The SG&A expenses related to the Tysabri ROW sales are reflected in the Tysabri ROW revenue as previously described on page 10.

Research and development

Three Months Ended

Nine Months Ended

September 30

September 30

2011

2012

2011

2012

US$m

US$m

US$m

US$m

40.4

34.0

Cash expenses

120.5

106.1

1.7

1.5

Depreciation and amortization

5.1

4.7

2.3

1.5

Share-based compensation

7.4

8.7

44.4

37.0

Total

133.0

119.5

R&D expenses decreased by $7.4 million to $37.0 million for the third quarter of 2012, from $44.4 million for the third quarter of 2011 primarily as a result of lower spend on early stage research activities that are not part of the Neotope separation and reduced spend on Tysabri development activities.